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Fresh signs emerge over Asia economic slowdown

The Reserve Bank of Australia on Tuesday retained its benchmark interest rate at 4.5%, citing “uncertainty” about the rate of “future global growth”, in the latest sign of a slowdown in that the pace of economic growth in the Asia-Pacific region.

Separately, a Japanese index grouping various domestic economic indicators registered its maiden decline for more than 12 months, dropping to 101.2 in May from 101.3 the previous month, the country’s cabinet office revealed.